#50 Manuel V. Pangilinan

#50 Manuel V. Pangilinan

2013 The Philippines 50 Richest NET WORTH

$105M

as of 7/31/13

Manuel Pangilinan, chief executive of Hong Kong-listed First Pacific, which owns big brands like Philippine Long Distance Telephone, TV 5 and Meralco in the Philippines and Indonesian instant noodles maker Indofood, returns to list after 5 year gap despite facing a series of setbacks that prompted him to declare 2012 as a "horrible year". He failed in a third attempt to acquire rival TV network GMA and his mining unit Philex was slapped with a $23 million fine for a spill. Following a verbal tussle in the Senate where he was accused of allegedly fueling anti-Chinese sentiments, Pangilinan threatened to relocate to Hong Kong. His net worth estimate is based on what we can prove, though sources claim he owns higher stakes than publicly known.